Hyperliquid’s xyz:SKHYNIX perpetual briefly fell ~20% after a “black swan” pre-market commerce in South Korea priced a single SK Hynix share at KRW 1.272 million, triggering a roughly 30% transfer and a buying and selling halt within the underlying market.
What is the Scoop?
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Who Operates the Market: Commerce.xyz operates the market, who’re investigating the problem. Of their response, Hyperliquid made clear that it was Commerce’s accountability to resolve this as Hyperliquid is a permissionless chain, and beneath HIP-3, unbiased groups can deploy and run their very own markets utilizing it as infrastructure.
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How HIP-3 Pricing Works: Every market’s worth comes from three inputs, and the deployer controls two of them. Hyperliquid itself provides just one, drawn from onchain buying and selling exercise. As a result of the ultimate worth is the median worth of the three, regardless of the deployer pushes successfully decides it. If Hyperliquid’s onchain enter reads 100 however the deployer submits 150 and 151, the market costs at 150.
